Wednesday Outlook: Stock markets find a footing; oil resumes climb

U.S. Federal Reserve chair provides investors with reassurance and soothes fear of inflation

  
The front facade of the New York Stock Exchange (NYSE) is seen in New York City, U.S., March 29, 2021.

The front facade of the New York Stock Exchange (NYSE) is seen in New York City, U.S., March 29, 2021.

REUTERS/Brendan McDermid

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Tech leads tentative rally as Powell soothes markets
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4%. Japan's Nikkei rose 0.3%

Oil resumes climb on large U.S. oil stocks drawdown
Brent crude futures jumped 42 cents, or 0.6%, to $75.23 a barrel, after giving up 9 cents on Tuesday

Gold ticks up after Powell pledges not to raise rates quickly
Spot gold was up 0.1% at $1,780.06 per ounce

Dollar in retreat as Powell says Fed won't raise rates on 'fear' of inflation
The dollar index, which measures the greenback versus six rivals, was at 91.775 in early Asian trading


 

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